JetSmarter

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JetSmarter Inc.
Private
Industry Transportation, Aviation, Technology
Founded November 2012
Founder Sergey Petrossov
Headquarters Fort Lauderdale, Florida, United States
Area served
Worldwide
Key people
  • Sergey Petrossov (CEO)
Services Mobile application, flight sharing, aircraft for hire
Website jetsmarter.com

JetSmarter is a mobile community for shared and private flights. The company is headquartered in Fort Lauderdale, Florida.[1] Using proprietary mobile algorithms, the JetSmarter app connects fliers to more than 3,000 aircraft and existing routes across three continents – the United States, Europe, and the Middle East.[2][3] Plus, app users have the ability to create flights virtually anywhere on the globe and share them with other members or book all the seats to make it private.

Launched in 2013, the app saw more than 300,000 downloads by 2014 [4]. Membership starts at $4,950 annually, and according to the company, all app users get access to seats on existing flights across the globe as well as the ability to create shared and private flights on-demand. The app uses data science, advanced mobile technology, and a community-oriented approach to connect leaders in business, sports, entertainment, and culture with socially powered travel. JetSmarter lets travelers reserve seats on existing flights, create on-demand shared and private flights to anywhere on the planet, and book seats on last-minute empty-leg deals. Members enjoy luxury lifestyle benefits and networking with like-minded travelers.

The last-minute empty-leg deals offer seats on private jets that would otherwise be traveling empty to pick up customers or return home. Through its app, JetSmarter connects app users to a network of 3,200 aircraft. The app has over 670,000 registered users. [5]

History[edit]

JetSmarter was founded in 2012 by entrepreneur Sergey Petrossov,[6][7] whose idea made him one of Forbes' "30 Under 30" business leaders of 2016.[8][9] In August 2012, the beta version was launched and tested among a closed group of private aviation users. After testing proved successful, Petrossov sought and received substantial venture funding to expand JetSmarter's scope.[10] In March 2013, the JetSmarter app was launched and made available to the general public on both iOS and Android devices.[11]

In June 2015, JetSmarter announced its new European Headquarters in Zurich, Switzerland. In early 2016, it launched flights within Europe.[12][13] JetSmarter has offices in Zurich, London, Moscow, Dubai, Riyadh, and Fort Lauderdale.[14]

Funding[edit]

According to Business Insider and TechCrunch, JetSmarter has raised $20 million from the Saudi Royal Family, American rapper Jay-Z, American serial entrepreneur and investor Wayne Chang,[15] and investment bank Goldman Sachs Capital Partners.[14][16][17]

In December 2016, JetSmarter announced it had raised an additional $105 million at a $1.6 billion valuation. The company said this will fuel international expansion and add at least 80 more routes to its existing 50 routes.[18][19][20]

In August 2017, JetSmarter said it raised an undisclosed amount of institutional capital from Clearlake Capital Group, LP, Leucadia National Corporation and existing investors. It said it would use the money to expand services, including routes and flight frequency. [21]

Services[edit]

JetSmarter flight services include a mix of shared and private flights:

  • Seats on existing jetpooling flights starting around the same price as commercial[22]
  • On-demand shared flights for a fraction of the cost of traditional charters; fliers specify how many seats they need, and then earn flight credit by allowing JetSmarter to sell empty seats to other fliers.[22]
  • On-demand private flights backed by a low-price guarantee
  • Helicopter transfers in select cities
  • Empty-leg flight deals, or repositioning flights. The JetSmarter app allows passengers to search for and set up alerts for empty leg flights leaving their chosen cities.[23]

JetSmarter has 3,000 private jets and 2,000 free empty legs per month.[24] In January 2016, Chicago Tribune reported JetSmarter launched app-based private charter service in Chicago, using Midway International Airport as its access point.[25] Adding to its services, the company offers helicopter transfers in select cities. The fastest growing profession of JetSmarter customers is Self-Employed individuals (56%), including personal trainers, fashion stylists, designers, chefs, image consultants and event planners. That fact is supported by the apps reviews and customer assessment.[26]

  • Membership — $4,950/year membership fee offering unlimited ability to book seats on existing flights as well as create shared or private flights across the globe [27]

In May 2018, JetSmarter announced it would have a fleet of 20 JetSmarter branded aircraft by the end of the year. The aircraft will be managed and operated by JetEdge, a Part 135 operator. It also said it had eliminated free shuttles and for new members, it had eliminated free flights under three hours. The company also said it was providing integration via SAP Concur to attract more corporate travel business. [28]

In June 2018, JetSmarter announced for the first time it would allow non-members to book seats on its scheduled private jet flights as well as start shared flights. It also said flight starters can now sell seats they can't use on shared charters to non-members via a function on the JetSmarter app. [29]

Partnership[edit]

JetSmarter partners with various air carriers that span the range of the private charter industry.[30][31] Partnerships include Pernod Ricard[32], Vertis Aviation [33], and SportStar Relocation [34]. All of these partnerships lead the service aspect of JetSmarter where the company looks to utilize its travel offerings for different markets. The company has also partnered with Jet Edge and Air Hamburg to cater to its global community of private jet fliers. [35]

Corporate affairs[edit]

In 2017, The Verge reported that management of JetSmarter offered free flights to its reporters if an article was posted within five days of the flight.[36] According to the reporter if the story did not appear within that timeline, the reporter's credit card would be charged $2,000.[37]

References[edit]

  1. ^ "Jetsmarter: The Uber of Air Travel". The Wall Street Journal. Retrieved 26 January 2016. 
  2. ^ "Steep Fees and First-Class Prices, but Private Jets Are Available to More". The New York Times. 16 February 2015. Retrieved 26 January 2016. 
  3. ^ Camila Souza. "JetSmarter Is Uber for Affordable Private Jets". Tech Cocktail. Retrieved 20 January 2015. 
  4. ^ "The JetSmarter App Puts Air Travel at Your Fingertips". Forbes. Retrieved October 31, 2014. 
  5. ^ "South Florida's flourishing private jet market attracts new entrants". Sun Sentinel. Retrieved August 25, 2017. 
  6. ^ Thomas, Aby Sam (1 Mar 2015). "Sergey Petrossov's Sky-High Ambitions". Entrepreneur Media, Inc. Entrepreneur. 
  7. ^ Mikhail Starodubov. "Fancy a quick getaway? Just hail a private jet". News24. Retrieved 20 January 2015. 
  8. ^ Bertoni, Steven (24 Jan 2016). "Forbes 30 under 30 2016". Forbes. 
  9. ^ Hussain, Jawad (9 Nov 2015). "Interview: How Sergey Petrossov revolutionized private jet business". Arabian Gazette. 
  10. ^ Rachel Hennessey. "The JetSmarter App Puts Air Travel at Your Fingertips". Forbes. Retrieved 20 January 2015. 
  11. ^ "JetSmarter app will hail a private jet from anywhere in the world". Daily Mail. Retrieved 26 January 2016. 
  12. ^ Davidson, Lauren (22 Mar 2016). "'Uber for private jets' launches on-demand service between London and Europe". Telegraph Media Group Limited. Daily Teleraph. 
  13. ^ Jan Kamps, Haje (23 Mar 2016). "JetSmarter puts a jet in your pocket, and is happy to see you". AOL Inc. Techcrunch. 
  14. ^ a b Kamps, Haje Jan (23 Mar 2016). "JetSmarter puts a jet in your pocket, and is happy to see you". AOL. TechCrunch. 
  15. ^ "Meet the private-jet startup backed by Jay Z and the Saudi royal family". Business Insider. Retrieved 26 August 2016. 
  16. ^ "An 'Uber for private jets' startup just raised $20 million from Jay Z and the Saudi Royal Family". Business Insider. Retrieved 26 January 2016. 
  17. ^ "With $20M In The Bank, JetSmarter Is Building The Uber Of The Skies". TechCrunch. Retrieved 26 January 2016. 
  18. ^ Bensinger, Greg (2016-12-12). "Private-Jet Booking App Lands $105 Million in Funding". Wall Street Journal. ISSN 0099-9660. Retrieved 2016-12-18. 
  19. ^ "JetSmarter Raises $105 Million for Uber-Like Services in the Sky". Bloomberg.com. 2016-12-12. Retrieved 2016-12-18. 
  20. ^ "Jay Z-backed private jet firm JetSmarter raises $105 million at $1.5 billion valuation". VentureBeat. Retrieved 2016-12-18. 
  21. ^ Gollan, Doug (2017-08-10). "Jet Membership Seller JetSmarter Raises An Undisclosed Amount Of Institutional Capital – Private Jet Card Comparisons – Know Before You Buy". Privatejetcardcomparisons.com. Retrieved 2017-12-09. 
  22. ^ a b "JetShuttle of JetSmarter". JetSmarter. Retrieved 26 January 2016. 
  23. ^ "Need a Private Jet in a Pinch? Try This App". Bloomberg. Retrieved 20 January 2015. 
  24. ^ "Empty Leg Flights Make Private Jet Travel More Affordable". LuxuryEscapes.com. Retrieved 26 January 2015. 
  25. ^ "JetSmarter brings app-based private charter service in Chicago". Chicago Tribune. Retrieved 26 January 2016. 
  26. ^ "These Two Aviation Companies Are Redefining Private Jet Travel". Forbes. Retrieved January 14, 2017. 
  27. ^ "JetSmarter Membership: The 'Uber For Private Jets". The Odyssey Online. Retrieved Jan 11, 2018. 
  28. ^ Private Jet Card Comparisons https://privatejetcardcomparisons.com/2018/05/10/exclusive-jetsmarters-evolution-is-bringing-branded-airplanes-aircraft-management-new-single-seat-empty-leg-and-charter-pricing-plus-a-new-coo/#more-9843
  29. ^ Private Jet Card Comparisons https://privatejetcardcomparisons.com/2018/06/12/exclusive-jetsmarter-to-launch-non-member-options-and-a-jet-card-program/
  30. ^ Vicky Karantzavelou. "JetSmarter partners with GlobeAir enabling international expansion". TravelDailyNews. Retrieved 20 January 2015. 
  31. ^ Marcia Heroux. "Charter a flight with the tap of an app". Sun-Sentinel. Retrieved 20 January 2015. 
  32. ^ Ricard, Pernod. "Pernod Ricard and JetSmarter Announce One-Of-A-Kind Partnership". www.prnewswire.com. Retrieved 2018-06-11. 
  33. ^ "Vertis Inks ME Partnership with JetSmarter". Retrieved December 7, 2016. 
  34. ^ "SportStar Relocation Announces Partnership with JetSmarter". Retrieved April 27, 2017. 
  35. ^ "The Fastest-Growing Private Jet Company In The World". Retrieved March 2, 2016. 
  36. ^ Sottek, T.C. (March 3, 2017). "JetSmarter Tries to Extort Journalists for Positive Coverage". The Verge. Retrieved March 20, 2017. 
  37. ^ "This Startup Made Journalists Agree To Write Positive Reviews Or Pay Them $2,000". Jalopnik. Retrieved 5 March 2017. 

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